An international chain of fast food restaurants with 45,000 outlets worldwide was sold for $9.6 billion to investment company Roark Capital. Since Subway’s founding in 1965, the chain has been owned by the founding families of Fred DeLuca and Peter Buck.
Subway announced the sale of the business to investment company Roark Capital. The amount of the deal was not disclosed, but The Wall Street Journal estimated it at $9.6 billion.
The fast food restaurant chain was founded in 1965. Since its inception, it has been owned by the founding families of Fred DeLuca and Peter Buck.
The Metro network has 45,000 points of sale around the world. Under the terms of the agreement, Subway’s current management and staff will continue to work for the company.
Investment firm Roark Capital manages assets totaling $33 billion and is one of the largest players in the US food service market.
Author:
Kirill Bilyk
Source: RB
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